Laws & Taxes

Laws & Taxes

Real Estate Tax Credits and Deductions You Don’t Want to Miss

In real estate, there are a lot of expenses associated with buying and selling homes – especially if you’re an agent. Luckily, there are a number of tax write-offs that can be used to offset the cost. You just have to know what deductions and credits real estate agents can claim and how to claim them.

Senator Cantwell, ACTION Campaign Call for Fifty Percent Increase in Housing Credit Authority

Senator Maria Cantwell (D-WA) announced in Seattle this afternoon her intention to introduce legislation to expand Low Income Housing Tax Credit authority by 50 percent and to make other changes to strengthen the program. At the same time, the ACTION Campaign, a group of about 1,300 affordable housing stakeholders that NCSHA and Enterprise Community Partners co-chair, transmitted to every member of Congress a national sign-on letter, endorsed by more than 1,300 organizations representing all 50 states, ca6lling on Congress to increase the Housing Credit cap by at least 50 percent. Cantwell also referenced this letter in her remarks

Whitehouse Applauds House Passage of his Bill to Protect Servicemembers from Foreclosure

Senator Sheldon Whitehouse applauded the House’s passage today of the Foreclosure Relief and Extension for Servicemembers Act, which extends key foreclosure protection to those who serve. Whitehouse authored the legislation, which was unanimously approved by the Senate in December. The bill now awaits the President’s signature to become law.

Architects Take Leading Position In New Tax Reform Coalition

The American Institute of Architects (AIA) today announced that it has signed on as charter members of “Parity for Main Street Employers” (PMSE), a coalition pushing for comprehensive tax reform that treats small business fairly

Judiciary Reins in Property Costs, House Panel Told

The federal Judiciary is actively trimming costs for courthouses and office space, and is working to ensure that recently appropriated funds for eight courthouse construction projects will be spent efficiently, a House subcommittee was told by the head of the Judiciary’s Space and Facilities Committee.

Supreme Court Allows Chesapeake Bay Blueprint to Stand

The U.S. Supreme Court today denied the request of the American Farm Bureau Federation and its allies to take up their case challenging the legality of the Chesapeake Bay clean-up plan known as the Chesapeake Clean Water Blueprint. That decision means that the ruling of the Third Circuit Court of Appeals will stand. That unanimous ruling found that EPA did not exceed its authority and that the efforts to restore local rivers, streams, and the Chesapeake Bay are entirely legal.

NREL analysis finds tax credit extensions can impact renewable energy deployment and electric sector...

The Energy Department's National Renewable Energy Laboratory (NREL) today released new analysis exploring the potential impact of recently extended federal tax credits on the deployment of renewable generation technologies and related U.S. electric sector carbon dioxide (CO2) emissions.

Resilient Construction Should Be Key for Infrastructure Bill

The Portland Cement Association (PCA) has long supported a nationwide plan to reconstruct our nation’s crumbling roads and bridges, which are critical to the nation's economy and security. The Association strongly believes that to achieve a sound investment of taxpayer dollars, legislation authorizing infrastructure construction and reconstruction using durable and resilient materials should be passed.

National Association of Realtors® Applauds Passage of Tax Extenders Package

A significant piece of tax legislation is now on its way to the President’s desk, and the bill includes the extension of a number of expired tax provisions important to supporting homeowners and real estate investment.

Congress Wraps up the Year with Energy Efficiency Gifts to America

Congress delivered an early gift of energy efficiency tax incentives to help American consumers and businesses invest in products and technologies that will return energy and dollar savings.  The omnibus appropriations and tax extenders bill approved by Congress reinstates and extends until 2016 a tax incentive of up to $500 for families that purchase qualifying energy efficiency products; provides home builders and/or manufacturers up to $2,000 for building energy efficient homes

NAIOP Statement on PATH Act’s Importance to Commercial Real Estate

Thomas J. Bisacquino, President and CEO of NAIOP, the Commercial Real Estate Development Association, issued the following statement on the House of Representative’s passage of Protecting Americans from Tax Hikes (PATH) Act of 2015

Statement from NAHB Chairman Tom Woods on Report EPA Broke the Law on Water...

Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo., issued the following statement on the ruling by the Government Accountability Office that found the Obama administration broke the law when it used social media to urge the general public to support the Environmental Protection Agency’s final rule defining “waters of the United States.”

A.G. Schneiderman, Governor Cuomo, Mayor De Blasio, And State And City Housing Agencies Announce...

Attorney General Eric T. Schneiderman, Governor Andrew M. Cuomo, and Mayor Bill de Blasio, joined by Commissioner James S. Rubin of  New York State Homes & Community Renewal (“DHCR”)  and Commissioner Vicki Been of the City’s Department of Housing Preservation and Development (“HPD”),  announced today that 128 landlords receiving lucrative tax benefits under Section 421-a of the New York Real Property Tax Law are now registering 1,823 market-rate apartments across New York City as rent-stabilized.

Federal Tax Credits to Create, Preserve Affordable Housing across the State

Six developers across the state were recently awarded Low Income Housing Tax Credits (LIHTC), a key federal funding source for creating and preserving affordable housing. The tax credits will provide almost $31 million in upfront cash equity to be used for building 170 affordable apartments and preserving 100 more.

Byrne Introduces Bill to Cut Down on Public Housing Abuse

Congressman Bradley Byrne (R-AL) introduced legislation today that would ensure accountability in public housing by cracking down on the number of over-income families who live in taxpayer-subsidized public housing.

MaineHousing awards $2.9 million in affordable housing tax credits

Five affordable housing projects for homeless veterans, seniors, and families will share nearly $2.9 million in federal Low Income Housing Tax Credits (LIHTC) allocated by MaineHousing through a competitive selection process.

MaineHousing awards $2.9 million in affordable housing tax credits

Five affordable housing projects for homeless veterans, seniors, and families will share nearly $2.9 million in federal Low Income Housing Tax Credits (LIHTC) allocated by MaineHousing through a competitive selection process.

BIPARTISAN LEGISLATION TO HELP SMALL COMMUNITIES MEET SAFE DRINKING WATER STANDARDS PASSES HOUSE

U.S. Rep. Gregg Harper (R-Miss.), today praised passage of S. 611, the “Grassroots Rural and Small Community Water Systems Act,” by the House of Representatives. The bill –would help small and rural communities comply with “safe drinking water” regulations. Rep. Harper and Rep. Paul Tonko (D-N.Y.) introduced companion legislation to Senator Roger Wicker’s S. 611 earlier this year

Pending Home Sales Nudge Forward in October

Pending home sales were mostly unchanged in October, but shifted marginally higher after two straight months of declines, according to the National Association of Realtors®. Gains in the Northeast and West were offset by declines in the Midwest and South.

Georgia Department of Community Affairs awards $25.8 million in tax credits to develop workforce...

The Georgia Department of Community Affairs (DCA) announced today it will award $25.8 million federal housing tax credits to construct or rehabilitate 33 affordable rental housing properties located throughout the state. The developments include affordable housing for working families, housing for Georgia seniors and housing for persons with disabilities, and were selected from 75 applications in the annual competition

OPIC, IFC FINANCE CAP DES BICHES POWER PLANT TO BOOST ENERGY SUPPLY IN SENEGAL

The Overseas Private Investment Corporation, the U.S. Government's development finance institution, and IFC, a member of the World Bank Group, last week signed financing agreements for the 53 megawatt Cap des Biches power plant with project developer ContourGlobal, the Government of Senegal, and Senegal’s national electricity utility to help address growing demand for electricity in the country

Mayor Domenic J. Sarno Announces Administration’s Recommendation for Fiscal Year 2016 Property Tax Rates

ayor Domenic J. Sarno announced today his administration’s recommendation for Fiscal Year 2016 property tax rates. The proposed tax rates are $19.66 per thousand dollars of value for residential property and $38.60 per thousand for commercial, industrial, and personal property. “I am pleased that we are able to reduce both tax rates and continue to promote stable neighborhoods with improving home values as well as a strong economic policy of retaining and expanding jobs.”

Arlington Warns Residents of False Real Estate Tax Correspondence

Many Arlington County homeowners have received correspondence, signed by Jud Allen of Express Homebuyers, falsely claiming that these owners owe real estate taxes and that the County may take their homes away from them due to delinquent taxes, Arlington County Treasurer Carla de la Pava said.

HMFA Awards $31.9 Million in Federal Affordable Housing Tax Credits to Create More Than...

New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta today announced the award of $31.9 million in federal Low Income Housing Tax Credits (LIHTCs), which will generate $319 million in investment capital to build more than 1,700 rental units across New Jersey

Best Lawyers names Kelly May 2016 Birmingham Litigation – Real Estate ‘Lawyer of the...

Best Lawyers®, the oldest peer-review publication in the legal profession, recently named Huie, Fernambucq & Stewart (HFS) partner Kelly May the Best Lawyers' 2016 Birmingham Litigation – Real Estate "Lawyer of the Year".

Casey Introduces Senate Bill to Help Veterans with Disabilities Purchase, Modify Homes

U.S. Senator Bob Casey (D-PA) introduced the Veterans Homebuyer Accessibility Act, which would provide an $8000 refundable tax credit for specially adaptive housing modifications, and an $8000 first time homebuyer tax credit for all eligible veterans. The bipartisan legislation — introduced in the House by Representatives Jim Langevin (D-RI) and Paul Cook (R-CA) — addresses the delay in disability benefits many veterans are confronted with upon returning to civilian life. The bill would ameliorate the process of purchasing a home and modifying it to accommodate for disabilities

Detroit’s Property Tax: Averting Another Disaster

Having emerged last year from the largest municipal bankruptcy in U.S. history, Detroit is still hindered in its recovery by structural flaws in its property tax system, according to a new report published by the Lincoln Institute of Land Policy.

Governor Announces Appointments

Governor Bruce Rauner announced today he has appointed an Inspector General of the Illinois Tollway, and made judicial appointments to the Illinois Court of Claims and the Illinois Property Tax Appeal Board

FORMER NEWS BOYS’ HOME IN ST. LOUIS RECEIVES NATIONAL TRUST/HUD SECRETARY’S AWARD FOR EXCELLENCE...

When Father Dunne’s News Boys’ Home and Protectorate was founded in 1906, it served as a refuge for orphaned or abandoned boys, many whom worked selling newspapers on the streets of St. Louis. For more than a century, the three-story building at 2010 Washington Avenue provided a home for those experiencing homelessness and after renovation in 1970, it became the Harbor Light Center serving persons struggling with chronic substance abuse and various disabilities.

Statement of the Sargent Shriver National Center on Poverty Law on HUD Criminal Records...

On November 2, the Department of Housing and Urban Development (HUD) issued guidance to clarify that public housing authorities may not use arrest records as a basis to deny admission to housing and to stress that criminal records screening criteria must comply with civil rights laws. The following can be attributed to Marie Claire Tran-Leung, Staff Attorney, Sargent Shriver National Center on Poverty Law

Popular Government & Nonprofit Press Releases

VA

VA to make beds available where possible to non-Veteran nursing home...

U.S. Secretary of Veterans Affairs Dr. David J. Shulkin announced that VA is making beds available where possible to non-Veteran nursing home residents affected by Hurricane Irma

Recent Government & Nonprofit Press Releases

DOI

Secretary Zinke Announces $94.3 Million to States for Parks and Outdoor...

U.S. Secretary of the Interior Ryan Zinke today announced that $94.3 million will be distributed for outdoor recreation and conservation projects to the 50 states, U.S. territories, and the District of Columbia from the Land and Water Conservation Fund (LWCF), which is funded through offshore oil and gas leasing. These funds are awarded through federal matching grants that leverage public and private investment in America’s state and local public parks.